UBS On-Air: Paul Donovan Daily Audio 'The monument to Powell’s policy errors'

Today’s US consumer price inflation report for June stands as a monument to Federal Reserve Chair Powell’s policy errors. No single statistic should matter so much to markets. Coherent central bank communication should leave investors interested in consumer price inflation-but as part of a survey of trends across a wide range of indicators. Obsessing over a single statistic is wrong, and a result of Powell’s policy approach.